Shopko will close all of its stores as it has been unable to find a buyer for its business after declaring bankruptcy in January, according to a media release on Monday, March 18.

Retail operations will begin to wind down this week. A liquidation process is expected to be complete in 10-12 weeks.

The release said the business will work to minimize the impact on staff and customers, as well as the communities it serves.

"This is not the outcome that we had hoped for when we started our restructuring efforts," said CEO Russ Steinhorst. "We want to thank all of our teammates for their hard work and dedication during their time at Shopko."

The Ellsworth Shopko was already set to close May 5, as announced in February. No closure had been announced for the River Falls retail store, though its pharmacy closed in January.